Crypto Beginner Guides

Sell Bitcoin (BTC)

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Bitcoin – Guide to a safe sell

When you have been accumulating your Bitcoin (BTC) through trading or mining, the time always comes when you are looking to offload some for FIAT currency. Even though Bitcoin is the largest cryptocurrency in the world, making purchases and paying your rent is not that easy. So if you are looking for the best options to sell your Bitcoin for USD or any other currency this guide is for you.

Selling Bitcoin is very much of a similar process as to when you are buying Bitcoin. You just need to make sure that you pick an exchange that has it (almost all of them do) and one that operates within your legal jurisdiction.

When you have found your exchange of choice, you will need to set up an account with that exchange and provide them with your information. Depending on the amount you are selling you might need to go through a more rigorous KYC process.

Once all of this is taken care of you can sell your Bitcoin for Euro or USD, or you can also choose to trade your bitcoin into Tether (USDT), which is a cryptocurrency backed 1to1 by the US dollar.
Almost all of the exchanges will offer you a simple digital wallet where you can store any currency you want to obtain.

When you have decided how you want to handle your Bitcoin, you can choose to place a sell order and wait for a taker.

The rate is as always decided by the market. But what you should look into is the fee that each exchange take for a transaction. Many exchanges offer a lower cost when you are posting a limit order instead of a market order. So be on the lookout for an exchange that provides a small fee.

If you want to have a more private way of selling your Bitcoin, you can try to find buyers at an over the counter broker. These services match you with a buyer off of the regular market. Be aware though that you should never send any Bitcoin to anyone before you are sure that you will get anything in return. This is made sure by escrow services that these OTC services provide.

As always when it comes to cryptocurrencies, do your own research before making a deal.